Japan Stocks Closed Near The Peak of 3 Decades After Trump Signed The Stimulus

Japanese shares rose in thin holiday trading on Monday, heading towards the highest level in nearly three decades, as investors continue to bet that the US stimulus and Corona vaccines will accelerate the pace of the global economic recovery.

The benchmark Nikkei index ended the day 0.74% higher at 26,854.03 points, just slightly below the 30-year high it reached last week. The broader Topix index rose 0.54 percent to 1,788.04 points.

Health care, utilities and industrial machinery producers rose thanks to expectations of improved profits after a turbulent year due to the outbreak of the Corona virus.

Sharp bucked the positive trend, dropping 3.03% after it reported suspicions that a unit of it might have used improper accounting methods.

The US President signed a $ 2.3 trillion financial aid and spending package after initially refusing to pass legislation that would restore unemployment benefits to millions and spare the federal government a partial closure.

Vaccination campaigns to prevent Covid-19 began in Europe on Sunday. The vaccination had started earlier in Britain and the United States, which raised hopes that developed countries would overcome the obstacles caused by the spread of the Coronavirus.